Effective July 1, 2020, authorizes local boards of education to transfer and approve transfers of funds between allotment categories for the 2020-21 fiscal year, subject to eight detailed limitations, including barring transfers out of children with disabilities, students with limited English proficiency, and academically or intellectually gifted students categories, and barring transfers into the central office allotment category. Specifically allows for the transfer of funds in the driver's education allotment category pursuant to these provisions. 

Directs the Department of Education (DPI) to study the implementation and impact of the act's budget flexibility guidelines and report to the specified NCGA committee and division by April 1, 2021. Details required information of the report. 

Appropriates $50,000 in nonrecurring funds from the General Fund to DPI for the 2020-21 fiscal year to conduct the study.

Effective July 1, 2020.